US EditionHarbinger founder admits market misconduct in SEC settlement
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Harbinger founder admits market misconduct in SEC settlement
Philip Falcone, the embattled hedge fund manager behind Harbinger Capital Partners, has admitted to multiple counts of market misconduct in a rare, high-profile $18m settlement with the US Securities and Exchange Commission (SEC), according to a report by Law.com. In a consent order issued this, Falcone acknowledged violations of federal securities laws, including improperly loaning himself $113m from Harbinger funds to pay personal taxes, and g…
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